Victoria, TX Federal Housing Finance Agency Home Price Index (FHFA HPI)

Victoria, TX is a city located in the southeastern part of Texas. The city has a population of about 62,000 people and is the county seat of Victoria County. The Victoria metropolitan statistical area has a population of about 92,000 people.

The median home value in Victoria is $128,100, which is lower than the national average of $184,700. The median home value in Texas is also lower than the national average at $161,500. However, home values in Victoria have been increasing at a faster rate than both the state and national averages over the past few years. Between 2013 and 2017, the median home value in Victoria increased by 25%, while the state and national averages only increased by 14% and 11%, respectively.

There are several factors that contribute to the relatively low cost of housing in Victoria. One reason is that the city has a large supply of vacant land on which new homes can be built. Additionally, many homes in Victoria were built during periods when construction costs were lower than they are today. For example, many homes in the city were built during the 1970s when oil was booming and construction costs were relatively low.

Another factor that contributes to low housing costs in Victoria is that property taxes are relatively low when compared to other parts of Texas and to other states across the country. In fact, property taxes in Victoria are some of the lowest in all of Texas with an effective tax rate of only 1%. This means that for every $100 worth of property value, homeowners only pay $1 in property taxes each year. This compares favorably to other parts of Texas where homeowners can pay up to 2% or 3% on their property taxes each year depending on where they live within the state